Goldman Sachs is shifting its head of foreign exchange trading to the role of global co-head of commodities trading, according to a memo to staff reviewed by The Wall Street Journal.

Guy Saidenberg, who assumed his post in foreign exchange last year, will move into his new role in June, according to the memo, working alongside Greg Agran. A spokesperson for the bank in London confirmed the contents of the memo.

The shift in Saidenberg's role comes as Kayhan Mirza prepares to join the bank, also in June, as global head of foreign exchange trading. Mirza joins directly at partner level from JP Morgan Chase and will report to securities division co-heads Pablo Salame, Isabelle Ealet and Ashok Varadhan.